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Lots in other park as determined by professional appraisals conducted in 2008 <br /> ranged from $140,000 $220,000. The lots in this Park may be more or may be <br /> less than those amounts, especially in light that the lots will not be sold for at <br /> least 10 years. <br /> Q When will know the price of my lot? <br /> A After the expiration of the park owner's 10 year commitment not to sell lots in <br /> the park and following the appraisal, residents will be provided information <br /> concerning the lot prices at least three months, and typically nine months, before <br /> they have to decide whether to buy their lot. <br /> As required by State law, each resident shall be informed that he /she has a <br /> ninety -day right of first refusal to elect to purchase his /her lot. This option period <br /> commences upon the DRE's issuance (the delivery of the report to the residents <br /> is also required before the option period may begin) of what is called "the Final <br /> Public Report." The time it takes the DRE to process the Final Public Report and <br /> the 90 -day period means that residents will know the sales price of each lot for <br /> approximately nine months before having to make a decision whether to buy or <br /> continue to rent. <br /> Q Can a third party /investor buy a lot if the resident does not and then evict <br /> the resident? <br /> A No. After the conversion, the Park must continue to comply with HCD <br /> regulations, the Mobilehome Residency Law and other State law provisions. <br /> Under those regulations and laws, all residents will have the right to continue to <br /> rent and therefore the lot cannot be sold to a third party who would evict the <br /> resident. <br /> (aj:mydocs /mblmhm/09 /qa doc- vnyrd) <br /> 6 <br />